What is FTN

Exploring Fasttoken (FTN): A Groundbreaking Initiative in the Web3 Landscape

Introduction to Fasttoken (FTN)

In a continuously evolving realm, the blockchain industry presents numerous opportunities and challenges. Fasttoken (FTN) emerges as a promising cryptocurrency token, energising the Fastex ecosystem—an innovative framework aiming to revolutionise decentralised finance (DeFi). Underpinned by the Bahamut blockchain, which is designed as a Layer 1 solution based on the Ethereum Virtual Machine (EVM), FTN offers several functionalities enhancing the decentralised finance landscape.

What is Fasttoken (FTN)?

Fasttoken (FTN) encompasses a multifaceted approach within the Fastex ecosystem. It is built primarily to facilitate features such as transaction handling and governance within the Bahamut blockchain. Serving as an ERC-20 token, FTN supports a range of applications, spanning DeFi projects and wallets, that are compatible with the Ethereum blockchain and other interoperable platforms.

The token's central objectives include enabling cross-chain transactions, thereby enhancing liquidity and broadening the scope of decentralised applications (dApps). As the native currency of the Fastex ecosystem, FTN plays a pivotal role in establishing efficient and secure mechanisms for financial transactions and governance voting within the blockchain framework. Furthermore, it benefits from a robust network of functionalities aimed at enhancing user engagement and participatory governance.

Who is the Creator of Fasttoken (FTN)?

Fasttoken has been developed by SoftConstruct, a prominent tech giant recognised for its innovative contributions to the technology sector. With an expansive global footprint, SoftConstruct boasts a user base that exceeds one million active participants and collaborates with over 700 partners. This strong backing offers FTN substantial credibility within the crypto space and positions it well for future growth and acceptance among users and investors alike.

Who are the Investors of Fasttoken (FTN)?

Although specific information relating to the investment foundations or organisations supporting Fasttoken is limited, it is noteworthy that the project has gathered considerable financial support throughout its developmental stages. In total, Fasttoken has successfully raised approximately $53.5 million over four investment rounds, encompassing initial coin offerings (ICO), private sales, and other fundraising activities. This financial backing reflects a strong confidence in the Fasttoken project's vision and potential to actualise its crypto and blockchain-related objectives.

How Does Fasttoken (FTN) Work?

Fasttoken functions utilising the Bahamut blockchain, which employs a distinctive consensus mechanism known as Proof of Stake and Activity (PoSA). This innovative approach facilitates efficient block creation, staking, and validation processes. By serving as the gas unit for the Bahamut blockchain, FTN underpins various DeFi activities, enabling seamless cross-chain transactions that augment the utility and flexibility of the token.

FTN's unique attributes enhance its role within the ecosystem. With its utility extending beyond mere transactional use, FTN also facilitates governance through voting, allowing FTN holders to actively participate in the decision-making processes that shape the future of the Fastex platform. This characteristic promotes deeper engagement among the community and aligns with the decentralised ethos foundational to the Web3 movement.

Timeline of Fasttoken (FTN)

The journey of Fasttoken is characterised by a series of well-defined milestones that delineate its evolution:

• Q4 2017: Initiation of comprehensive market analysis and research.
• Q1 2018: Launch of the first blockchain-based games showcased at ICE London, alongside the establishment of the core team.
• Q2 2018: Completion of the first implementation of blockchain-based games utilising State Channels. Creation of the Fast Channel protocol.
• Q3 2018: The launch of multiple games utilising version 1 of Fast Channels.
• Q1 2019: Publication of smart contract codes for blockchain-based games on GitHub.
• Q3 2019: Implementation of partner contracts and Know Your Customer (KYC) protocols for blockchain-based games.
• Q1 2020: Introduction of Fast Channel version 2.
• Q2 2020: Optimisations for state channels based on Ethereum feedback.
• Q3 2020: Continued technology optimisations for Fast Channel, including research for EVM-based blockchains and cryptocurrency exchange solutions.
• Q4 2020: Research and development of decentralised NFT marketplaces as well as NFT minting capabilities across EVM-compatible blockchains.
• Q1 2021: Focus on consensus mechanism research and development for EVM-based blockchains.
• Q2 2021: Progression in blockchain-based platform and game development, alongside Fast Channel version 3.
• Q3 2021: Development of a Smart NFT generator.
• Q4 2021: FTN token distribution and a comprehensive update on tokenomics, including drafting the SCRP programme.
• Q1 2022: Establishment and operationalisation of an NFT marketplace and further development on Fastex cryptocurrency exchange.
• Q2 2022: Whitelisting FTN for SoftConstruct employees, followed by the launch of the Fasttoken NFT collection on the Polygon network.
• Q3 2022: Finalising the setup of Fastex, including the commencement of private sales and the launch of the blockchain-based gaming platform with revised Fast Channels.
• Q4 2022: Public launch of the Fastex payments ecosystem and the test network launch of Fastex Chain.
• Q1 2023: Public sale of FTN, alongside the launch of Fastex Chain and continued research into decentralised platforms.
• Q2 2023: Ongoing research and development regarding the decentralised sports platform.
• Q3 2023: Launch of the blockchain-based feed provider oracle on the Fastex Chain.
• Q1 2024: Anticipated launch of the decentralised sports platform on the Fastex Chain.

Key Features of Fasttoken (FTN)

The Fasttoken (FTN) project integrates several key features that set it apart within the decentralised technology ecosystem:

• Decentralised Platform: Fasttoken thrives on a decentralised architecture, ensuring that transactions are secure, transparent, and offer autonomy to users.
• Metaverse Integration: By incorporating metaverse elements, FTN allows for immersive user experiences and access to novel opportunities within virtual realms.
• Comprehensive Financial Services: Fasttoken has launched a proprietary credit card aimed at making transactions more seamless and introducing diverse financial services designed to benefit its users.
• Robust Development Team: Supported by a capable team of developers and a clearly outlined roadmap, the Fasttoken project presents a credible expansion potential within the cryptocurrency market.

Token Distribution Overview

To further illustrate the structured nature of Fasttoken’s incentive design, the following token distribution model is outlined:

• Founders: 20% (200,000,000 FTN), unlocked over a 24-month vesting period, followed by a 10% monthly release.
• Advisors: 3% (30,000,000 FTN), with a 12-month vesting period followed by a 10% monthly release mechanism.
• Partners: 6% (60,000,000 FTN).
• Ecosystem: 24% (240,000,000 FTN).
• Blockchain Development: 12% (120,000,000 FTN).
• Marketing and Public Relations: 10% (100,000,000 FTN).
• Presale Participants: 6% (60,000,000 FTN), with an €9,000,000 hard cap and a 9-month vesting period.
• Private Sale Phase 1: 8% (80,000,000 FTN), with a €16,000,000 hard cap, followed by a 12-month vesting period with 10% monthly unlock.
• Private Sale Phase 2: 10% (100,000,000 FTN), capped at €25,000,000 over 12 months, with a similar unlock approach.
• Public Sale: 1% (10,000,000 FTN), capped at €3,500,000.

Conclusion

Fasttoken (FTN) encapsulates a progressive vision for Web3 and decentralised finance through its comprehensive offerings within the Fastex ecosystem. Backed by SoftConstruct's robust infrastructure and a carefully structured roadmap, Fasttoken is positioning itself as a formidable player in the blockchain landscape. With environmental sustainability at its core and cutting-edge features that integrate financial services and metaverse experiences, FTN stands to redefine how users interact with digital assets and decentralised applications well into the future. As the ecosystem continues to evolve, the crypto community remains eager to observe the advancements and innovations that will emerge from this promising project.